From tacos to fish: the owner needed a small-business loan.
Establishing cap rates for Class B office space is pretty simple. But the vacancy rate of subject vs. comparables was a challenge.
A former Walmart in excellent condition with beaucoup parking: The appraisal client wanted to know potential income if he moved his business into half. His idea was to rent to a medical equipment or other business that needed the parking and some extra storage.
The retiring sub-contractor had used this metal building with drafting offices and lots of extra storage for over 20 years of construction jobs. He wanted an appraisal to show the interested party with the business adjacent. All that road construction was bad for business in the moment, but what about afterward? How soon?
A 10,000 SF machine shop with tilt-wall construction and a new roof should be an easy appraisal—we thought. Low inventory and being in the path of intermodal growth made it a little more complicated. Demand and competition were analyzed.
The appraisal of this HEB Midcities commercial flex space included a building refurbished with state of the art training and media areas—but only partially. The owner got rid of the inefficient atrium and remediated the asbestos and lead. Cleaned up two floors “to the studs.” But two floors remained, and elevator replacement. Moser Appraisals provided an “as-is, retrospective” value opinion, for further financing. We accessed both commercial cost and sales data sources.